C3N: what changed
Two fiscal years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
What changed
C3N
NACE 70.200, Business and other management consultancy
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€5.3m
2024 · €5,276+€5.3m
Equity
€6.3m
2024 · €981,570+€5.3m
Cash
€189,686
2024 · €47,503+€142,183
Balance sheet total
€9.0m
2024 · €3.9m+€5.1m
Largest movements
Assets
- Financial fixed assets +€5.0m
up €5.0m (+679.7%), from €734,375 to €5.7m
- Cash +€142,183
up €142,183 (+299.3%), from €47,503 to €189,686
mainly Net result for the year (+€5.3m) and Depreciation (+€98,038)
Equity and liabilities
- Reserves +€5.3m
up €5.3m (+547.9%), from €975,370 to €6.3m
- Short-term financial debts -€137,850
down €137,850 (-92.7%), from €148,727 to €10,878
- Debts after one year -€129,617
down €129,617 (-5.3%), from €2.4m to €2.3m
of which Financial debts: -€166,585
Income statement
- Gross operating margin +€5.3m
up €5.3m (+2474.7%), from €215,693 to €5.6m
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Result 2024
€5,276
Gross operating margin
+€5.3m
Depreciation
+€9,837
Other operating charges
-€9,853
Financial income
+€313
Financial charges
-€2,256
Taxes
+€3,369
Result 2025
€5.3m
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
+€5.5m
Investment
-€5.0m
Financing
-€262,813
Cash 2024
€47,503
From operations (derived)
+€5.5m
Net result for the year
+€5.3m
Depreciation
+€98,038
Smaller working-capital items
-€5,063
Accrued charges and deferred income
+€16,452
Investment (derived)
-€5.0m
Investment in fixed assets (net)
-€5.0m
Financing
-€262,813
Debts after one year
-€129,617
Current portion of long-term debt
+€4,653
Short-term financial debts
-€137,850
Cash 2025
€189,686
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,945,867 | €9,036,781 | +€5.1m | +129.0% |
| Fixed assets | 21/28 | €3,814,265 | €8,765,194 | +€5.0m | +129.8% |
| Tangible fixed assets | 22/27 | €3,079,890 | €3,039,069 | -€40,821 | -1.3% |
| Land and buildings | 22 | €3,043,198 | €3,015,212 | -€27,987 | -0.9% |
| Plant, machinery and equipment | 23 | €4,523 | €4,002 | -€522 | -11.5% |
| Furniture and vehicles | 24 | €32,168 | €19,856 | -€12,313 | -38.3% |
| Financial fixed assets | 28 | €734,375 | €5,726,125 | +€5.0m | +679.7% |
| Current assets | 29/58 | €131,603 | €271,587 | +€139,985 | +106.4% |
| Amounts receivable within one year | 40/41 | €84,100 | €81,902 | -€2,198 | -2.6% |
| Trade receivables | 40 | €41,086 | €33,913 | -€7,172 | -17.5% |
| Other amounts receivable | 41 | €43,014 | €47,988 | +€4,974 | +11.6% |
| Cash at bank and in hand | 54/58 | €47,503 | €189,686 | +€142,183 | +299.3% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €3,945,867 | €9,036,781 | +€5.1m | +129.0% |
| Equity | 10/15 | €981,570 | €6,326,107 | +€5.3m | +544.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €975,370 | €6,319,907 | +€5.3m | +547.9% |
| Distributable reserves | 133 | €975,370 | €6,319,907 | +€5.3m | +547.9% |
| Amounts payable | 17/49 | €2,964,297 | €2,710,674 | -€253,623 | -8.6% |
| Amounts payable after more than one year | 17 | €2,440,739 | €2,311,122 | -€129,617 | -5.3% |
| Financial debts | 170/4 | €2,045,753 | €1,879,168 | -€166,585 | -8.1% |
| Other amounts payable | 178/9 | €394,985 | €431,953 | +€36,968 | +9.4% |
| Amounts payable within one year | 42/48 | €523,309 | €382,851 | -€140,458 | -26.8% |
| Current portion of amounts payable after more than one year | 42 | €164,371 | €169,024 | +€4,653 | +2.8% |
| Financial debts | 43 | €148,727 | €10,878 | -€137,850 | -92.7% |
| Credit institutions | 430/8 | €148,727 | €10,878 | -€137,850 | -92.7% |
| Trade debts | 44 | €25,463 | €15,216 | -€10,247 | -40.2% |
| Suppliers | 440/4 | €25,463 | €15,216 | -€10,247 | -40.2% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €29,342 | €23,998 | -€5,344 | -18.2% |
| Taxes | 450/3 | €25,592 | €20,248 | -€5,344 | -20.9% |
| Remuneration and social security | 454/9 | €3,750 | €3,750 | = | 0.0% |
| Other amounts payable | 47/48 | €155,405 | €163,735 | +€8,330 | +5.4% |
| Accrued charges and deferred income | 492/3 | €250 | €16,702 | +€16,452 | +6580.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €107,875 | €98,038 | -€9,837 | -9.1% |
| Other operating charges | 640/8 | €4,495 | €14,348 | +€9,853 | +219.2% |
| Gross operating margin | 9900 | €215,693 | €5,553,545 | +€5.3m | +2474.7% |
| Operating profit (loss) | 9901 | €103,323 | €5,441,159 | +€5.3m | +5166.2% |
| Financial income | 75/76B | €437 | €750 | +€313 | +71.6% |
| Recurring financial income | 75 | €437 | €750 | +€313 | +71.6% |
| Financial charges | 65/66B | €94,790 | €97,046 | +€2,256 | +2.4% |
| Recurring financial charges | 65 | €94,790 | €97,046 | +€2,256 | +2.4% |
| Profit (loss) for the period before taxes | 9903 | €8,970 | €5,344,863 | +€5.3m | +59485.1% |
| Income taxes | 67/77 | €3,694 | €326 | -€3,369 | -91.2% |
| Profit (loss) for the period | 9904 | €5,276 | €5,344,537 | +€5.3m | +101205.6% |
| Profit (loss) for the period to be appropriated | 9905 | €5,276 | €5,344,537 | +€5.3m | +101205.6% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.